Has the Administration decided that oil shale gives them the money they need for all their utopian dreams?
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Its the pubbies that need convincing. They are not convinced.
Basically what’s happening is the same thing as happened in the late 90’s. At that time the booming stock market and low gas prices sent 100’s of billions of dollars worth of new revenues to the federal government while Newt’s congress kept the federal government from growing. New’t congress didn’t cut the budget. They just kept it from growing. But that was enough. The budget balanced. Clinton of course fought tooth and nail to grow the budget and creamed newt for curbing growth. But in the end Clinton took credit for the balanced budget and that became his legacy.
Something similar is in the works for Obama.
Hmm. Enjoy a buoyed economy, while Zero gets the credit? I think they will still screw the pooch with torrential spending that will overwhelm any oil boom over the long term.